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Rackspace Technology, Inc. - RXT STOCK NEWS

Welcome to our dedicated page for Rackspace Technology news (Ticker: RXT), a resource for investors and traders seeking the latest updates and insights on Rackspace Technology stock.

Rackspace Technology, Inc. (RXT) is a leading provider of end-to-end, hybrid, multi-cloud technology services. The company specializes in designing, building, and operating its customers' cloud environments across all major technology platforms, including OpenStack, Microsoft, and VMware. Rackspace offers a comprehensive suite of solutions categorized into Application Services, Data, Colocation, Cloud, Managed Hosting, Professional Services, and Security & Compliance. This diverse service portfolio enables businesses to leverage cloud computing without the complexity and cost of managing IT infrastructure and applications independently.

Serving over 300,000 customers globally, including two-thirds of the Fortune 100, Rackspace is renowned for its Fanatical Support®—a results-driven service that emphasizes customer success. The company's expertise is further validated by its recognition as a leader in the Gartner Magic Quadrant for Cloud-Enabled Managed Hosting and its repeated inclusion in Fortune’s list of best companies to work for.

Rackspace is constantly innovating, as evidenced by its partnership with Google Cloud to showcase generative AI services and solutions. Their Foundry for AI by Rackspace (FAIR) initiative is dedicated to advancing business transformation and improving customer experiences through responsible AI technologies. FAIR has identified over 500 AI use cases and is actively working on industry-leading implementations worldwide.

Recent advancements include the integration of a Generative AI-enabled intelligent system with Microsoft Azure OpenAI Service, significantly enhancing data retrieval and business insights capabilities. Additionally, Rackspace has collaborated with healthcare organizations like Seattle Children's to manage critical workloads, ensuring improved patient care and optimized operations.

Rackspace's commitment to innovation extends to ethical AI practices, as demonstrated by their partnership with OhioX to promote responsible AI adoption and drive economic growth in Ohio. The company’s broad expertise and strategic partnerships enable it to support a wide array of industries, helping them modernize applications and adopt cutting-edge technologies.

For more information, visit www.rackspace.com.

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Rackspace Technology (NASDAQ: RXT) will release its Q1 2021 financial results on May 10, 2021, after market close. CEO Kevin Jones and CFO Amar Maletira will host a conference call at 5:00 pm ET to discuss the results. Interested parties can join the call by dialing 1-877-300-8521 (domestic) or 1-412-317-6026 (international), and can also access a live webcast via the company’s website. An audio replay will be available for three hours post-call until May 24, 2021.

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Rackspace Technology (NASDAQ: RXT) announced a partnership with Apria Healthcare to modernize its legacy IT infrastructure, achieving a 32% reduction in operating costs. The collaboration included consolidating and securing Apria's data center using Rackspace's Professional Services for Amazon Web Services and private cloud solutions. The upgrade led to enhanced efficiency, reduced space requirements from ten racks to one, and improved application performance. Apria's focus has shifted from IT maintenance to customer service, allowing it to better align its resources with revenue-generating activities.

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On April 20, 2021, Rackspace Technology (NASDAQ: RXT) announced its achievement of the Amazon Web Services (AWS) Machine Learning Competency in the new Applied Artificial Intelligence and Machine Learning Operations (MLOps) categories. This recognition reflects Rackspace's expertise in developing and integrating ML solutions on AWS, enabling clients to leverage intelligent applications and improve efficiency. The company's innovative frameworks for automated ML processes have significantly improved client operations, including a 50% reduction in infrastructure costs for clients such as Brave Software and enhanced survey analysis for McChrystal Group.

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Rackspace Technology (NASDAQ: RXT) has launched Rackspace Elastic Engineering, a new service model aimed at transforming cloud managed services. Unlike traditional fixed-scope solutions, this model offers customizable, on-demand access to dedicated cloud engineering teams, facilitating ongoing innovation and modernization. Supporting AWS, Microsoft Azure, and Google Cloud, the model enhances collaboration between customers and Rackspace engineers through dedicated teams called 'Pods'. The company aims to meet growing demands for agile, DevOps-oriented cloud solutions.

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Rackspace Technology (NASDAQ: RXT) announced a collaboration with Brave Software, enhancing Brave's web browser efficiency and scalability. By leveraging AWS services, Rackspace helped Brave reduce infrastructure costs by 50% and streamline machine learning model deployment. Brave reported improved responsiveness to advertisers' needs due to this partnership. Rackspace holds the AWS Machine Learning Competency status, showcasing its expertise in cloud solutions tailored for machine learning applications.

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Rackspace Technology (NASDAQ: RXT) will host a virtual roundtable on April 12 at 10:00 AM CT, titled What Your Cloud Strategy May Be Overlooking. Guest speaker Bill Martorelli from Forrester will address common misconceptions about cloud strategies and emphasize the importance of hybrid and multicloud environments. The discussion will cover the significance of selecting the right cloud technology for specific workloads, the role of private cloud, and the integration of serverless technologies. An expert panel will join Martorelli for further insights.

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Rackspace Technology (NASDAQ: RXT) announced a collaboration with Blackline Safety Corp. to enhance software innovation and platform improvements. Blackline, a leader in gas detection and connected safety solutions, is leveraging Rackspace's expertise to upgrade its data streaming and processing infrastructure. This partnership aims to expedite the deployment of industrial contact tracing solutions while improving data integrity and client insights. The collaboration is anticipated to support Blackline's growth trajectory and address safety needs amid the ongoing pandemic.

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Rackspace Technology has collaborated with Qwake Technologies to launch the C-THRU solution, a groundbreaking augmented reality device designed for firefighters. This cloud-native technology facilitates navigation and communication in low-visibility scenarios by leveraging IoT architecture. Qwake recently secured a government contract with the Department of Homeland Security (DHS) to commercialize this innovative platform. The C-THRU solution has been piloted by several fire departments, showcasing its potential to enhance safety and efficiency in firefighting operations.

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Rackspace Technology (NASDAQ: RXT) will host a virtual event titled Predicting Your Customer Needs with Modern Data on April 6, 2021, at 10:00 am CT. The event features keynote speaker Jeremiah Owyang, a tech and innovation expert, discussing the significance of data modernization in adapting to new technologies and customer behavior trends. The session will include real-world examples and a panel discussion with experts from Google Cloud and Rackspace Technology. Registration is available through a provided link.

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Rackspace Technology (NASDAQ: RXT) announced a collaboration with Century Engineering to enhance the SmartSWM™ stormwater management solution. The initiative leverages Internet of Things (IoT) technology and Amazon Web Services (AWS) to create a resilient stormwater infrastructure. Century Engineering sought Rackspace's expertise in cloud architectures and AWS services to refine their automated, real-time monitoring system. This partnership aims to position Century as a leader in environmental engineering while driving innovation in stormwater management.

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FAQ

What is the current stock price of Rackspace Technology (RXT)?

The current stock price of Rackspace Technology (RXT) is $2.38 as of January 30, 2025.

What is the market cap of Rackspace Technology (RXT)?

The market cap of Rackspace Technology (RXT) is approximately 538.2M.

What services does Rackspace Technology offer?

Rackspace provides Application Services, Data, Colocation, Cloud, Managed Hosting, Professional Services, and Security & Compliance.

Who are Rackspace Technology's customers?

Rackspace serves over 300,000 customers globally, including two-thirds of the Fortune 100 companies.

What is Fanatical Support®?

Fanatical Support® is Rackspace's results-driven service that emphasizes specialized expertise and customer success.

What recent advancements has Rackspace Technology made?

Rackspace has partnered with Google Cloud on generative AI solutions and integrated a Generative AI-enabled system with Microsoft Azure OpenAI Service.

How does Rackspace support the healthcare industry?

Rackspace helps healthcare organizations like Seattle Children's manage critical workloads, improving patient care and operational efficiency.

What is Foundry for AI by Rackspace (FAIR)?

FAIR is an initiative focused on advancing business transformation and improving customer experiences through responsible AI technologies.

What recognition has Rackspace Technology received?

Rackspace has been named a leader in Gartner's Magic Quadrant for Cloud-Enabled Managed Hosting and is frequently listed among Fortune’s best companies to work for.

How does Rackspace contribute to responsible AI practices?

Rackspace promotes ethical AI adoption and drives economic growth through partnerships like the one with OhioX.

How can I learn more about Rackspace Technology?

Visit Rackspace Technology’s website at www.rackspace.com for more information.

What is Rackspace's approach to cloud environments?

Rackspace designs, builds, and operates cloud environments across all major technology platforms, irrespective of technology stack or deployment model.
Rackspace Technology, Inc.

Nasdaq:RXT

RXT Rankings

RXT Stock Data

538.20M
199.07M
2.16%
84.46%
1.9%
Software - Infrastructure
Services-computer Programming, Data Processing, Etc.
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United States of America
SAN ANTONIO